The Treasury Department on Monday slapped sanctions on Venezuelan President Nicolas Maduro, sending a clear signal of the Trump administration's opposition to his regime.

The move comes a day after Maduro declared a sweeping victory in a vote that will allow him to further consolidate his power over the crisis torn nation. Much of the world -- and many of Venezuela's own citizens -- have called the vote an assault on democracy.

"Yesterday's illegitimate elections confirm that Maduro is a dictator who disregards the will of the Venezuelan people," said Treasury Secretary Steven Mnuchin in a statement announcing the latest sanctions on the Latin American country.

Beginning on Monday, all of the Venezuelan's president's assets that are subject to U.S. jurisdiction will be frozen. All U.S. citizens are also barred from dealing with him, according to Treasury.